The country's new richest man -- real estate and hotel kingWang Jianlin -- is now worth $22 billion, up from $10.3 billion in 2012, according to the latest Wealth Report from the Hurun Research Institute and marketing firm GroupM Knowledge.
Wang easily ousted China's former No. 1, Zong Qinghou, who is now No. 2 with a net worth of $18.7 billion.
Dalian Wanda Group, Wang's conglomerate, recently spent over $1.6 billion to buy the British yacht maker Sunseeker, which crafts vessels for James Bond films. The firm also announced plans to develop a five-star hotel and apartment complex in a prime London location, as it increasingly looks to expand outside of China.
Last year, Wanda also bought cinema chain AMC Entertainment Holdings in a $2.6 billion deal.